History was happening right in front of us. while people were catching me up on what I'd missed over the past two weeks, one of the biggest thefts of the year was underway. Yeah, I'm still talking about @bitget getting cleaned out for $387.5m
CT is still talking about how Bitget will cover the losses. researchers are digging through blockchains hoping for a bounty, and @zachxbt is already naming the middlemen laundering the stolen cash. (btw, I hope he actually gets paid for his work this time)
I'm obsessed with wallets, so I went digging into how this attack was even possible and what the team did when they spotted it.
Mandiant and slowMist lay out the attack vector in their reports. Links if you want to read them:
https://t.co/r0qK8novpz
https://t.co/hNqTkdsHYh
But after reading them, I've got more questionss about the team's response than anything else...
Three times in Bitget timeline. september 24, all utc:
19:05: Risk controls spot a discrepancy and block withdrawal requests.
20:40: The team starts moving funds to cold wallets.
21:44: They shut down withdrawals, including the transaction signing service.
2 hours and 39 minutes between blocking requests and shutting down signing. Were you guys asleep or what?
And the thief didn't just leave some signed transactions behind and walk away. After 21:22, he was still looking through logs, checking request statuses, still trying to steal BTC.
So requests were already being blocked. And the hacker was still in there, working inside the infrastructure.
Take the usdc transfers. at 20:41, 2.6m usdc gets moved out of the hot wallet address on ethereum:
https://t.co/6V8frt16dD
On Avalanche, that same address has 8.6m USDc left after a series of transfers around 20:40. at 20:55, 8.2M of it goes to the attacker:
https://t.co/5OuwfLrEuZ
Why the hell was that money still there? Did you forget about it? Couldn't move it in time?
I don't like kicking people when they're down. But for an exchange this size, this looks negligent. You're already blocking requests, you're moving funds, and the hacker is still working inside your infrastructure. Why were millions in usdc still sitting in that wallet for him to take later?
Okay, a third-party vulnerability explains how he got in. But how far he could get into your systems and how fast you could cut him off, that's on you.
I don't know what the team had figured out minute by minute during the hack. But being ready for shit like this should've been part of your product from day one.
My feed is full of people talking about money leaving Bitget. Looks like net outflows hit roughly half a billion dollars in the first 24 hours after they started bringing withdrawals back. And I get it. nobody wants a security crew that's already there but holds back the homeowner while the thieves carry their stuff out.
I'm a fan of decentralization. This just made me more sure of it. I want to control my own money and take responsibility for my own decisions. And if you take on the job of holding other people's funds, you're responsible for keeping them safe. (Protecting them, not paying them back.)
Got frozen by BofA and it wasn’t even my fault. No real warning. Some AML flag and that was it. Cards closed. Credit history wrecked. I’ve been fighting this for half a year. Emails, tickets, calls. On the phone they just say they can’t help. Same answer every time. Still nobody tells me why or how to fix it. That’s why holding my own keys feels different. At least nobody can lock me out like this. Not magic, and if you lose the keys you’re done, but it beats sitting on hold with BofA for six months. Похоже на Ии? Anyone know a person who can actually help with a freeze like this?
@BankofAmerica
If this project ends up being about that security thing you were talking about honestly EVAPEX sounds like the best name. EVA and her titanium fangs is a perfect fit for a guardian. Btw you still havent told me why she has steel fangs? lol that’s such a weird and interesting detail
GM, builders and everyone who cares about crypto security 😺
Someone recently asked me why Eva is chewing on a BNB ball in my header lol
Well, it’s not there by accident.
I’ve been following BNB Chain for years, and it’s always been one of the ecosystems I’ve followed closely. But the closer I get to launching my project, the more I realize that you don’t choose a chain based on technology alone.
For me, it matters just as much whether the ecosystem actually listens to builders. How easy it is to reach the right people, talk about your product and simply start a normal conversation.
I still haven’t made a final decision on the chain. This isn’t just another token either. It’s a project I’ve been building for several years, so I can’t just pick a chain at random.
If you were choosing a blockchain for your project today, whether it’s a product, infrastructure, utility, a token or something else entirely, which one would you choose?
My current favorites are:
@BNBCHAIN / @cz_binance@solana / @toly@base / @jessepollak@avax / @el33th4xor
Let’s vote below.
And definitely tell me in the comments which chain you picked and why.
Maybe this post will help me decide where the story of my project begins.
There’s a reason I picked these four. Each of them already has something my project needs, which makes the choice a lot harder than it probably looks.
If this project ends up being about that security thing you were talking about honestly EVAPEX sounds like the best name. EVA and her titanium fangs is a perfect fit for a guardian. Btw you still havent told me why she has steel fangs? lol that’s such a weird and interesting detail
👽 COMET OR UFO? 3I/ATLAS RETURNS FROM BEHIND THE SUN - AND IT’S WEIRDER THAN EVER
After vanishing behind the Sun last month, 3I/ATLAS has re-emerged - brighter, faster, and sparking fresh alien theories.
The interstellar object passed within 130 million miles of the Sun, where its icy shell vaporized into glowing gas, making it more visible than before.
Astronomer Dr Qicheng Zhang spotted it using Lowell Observatory’s Discovery Telescope, noting it can now be seen with even small telescopes.
This is only the third interstellar object ever detected, after Oumuamua and Borisov - and it refuses to behave like a typical comet.
Harvard astrophysicist Avi Loeb believes it may not be natural at all, calling it a potential "wake-up call" for humanity.
Source: GB News